Wheat Wilts, Corn Holds, and Soybeans Stumble in Mixed Market Day

Jul 31, 2025

Grains traded in mixed fashion today, with wheat and soybeans under pressure while corn eked out modest gains. The most notable weakness came from Chicago Wheat, where futures declined across the board. The front-month September 2025 contract slipped 6 cents to $5.23 3/4 per bushel, and losses extended steadily through to December 2026, which closed at $6.12 per bushel. The bearish tone in wheat continues to reflect stiff global competition and sluggish export demand, keeping the complex pinned near recent lows.

Soybeans took the biggest hit of the day, with losses ranging from 11 1/2 to 14 cents per bushel. August 2025 soybeans dropped 14 cents to $9.67 3/4, while new-crop November 2025 fell to $9.95 3/4, marking a dip below the psychologically important $10 mark. Broad-based weakness in vegetable oil markets and concerns over export demand—particularly with shifting trade patterns and tariff uncertainty—pressured the oilseed complex.

Corn, on the other hand, managed to stay afloat. Gains were modest but steady, with September 2025 up 2 1/2 cents to $3.91 3/4, and most deferred contracts also nudging higher. Support came from firm domestic demand and concerns about yield potential in some key U.S. growing regions.

In summary, the grain market is sending mixed signals: wheat is still facing strong headwinds, soybeans are reeling from external pressures, and corn is trying to carve out a foothold. Traders are eyeing weather maps, export pace, and political developments heading into August.

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